18 Dec WellDoc scores $22 million for BlueStar diabetes management platform
Samsung Ventures and existing investor Merck Global Health Innovation Fund led the funding round
WellDoc, whose BlueStar technology is focused on adults with Type 2 diabetes, has drawn $22 million in a Series B round of funding from Samsung Ventures and existing investor Merck Global Health Innovation Fund. The company will use the money to continue commercialization and accelerate adoption of BlueStar.
Adage Capital Management, Excel Venture Management, Alexandria Venture Investments and Hudson River Capital Partners also participated in the funding round.
Samsung and Excel will each provide one new member to the WellDoc board of directors.
BlueStar was cleared by the U.S. Food and Drug Administration for adults living with type 2 diabetes and their doctors. It requires a prescription from a licensed healthcare provider and can be dispensed by a pharmacy and reimbursed by a health plan. WellDoc’s proprietary Automated Expert Analytics System powers BlueStar.